New York State seal

March 5, 1979

SUBJECT: INSURANCE

WITHDRAWN

Circular Letter No. 10 (1979)

TO: ALL LIFE INSURANCE COMPANIES AND ALL INSURERS LICENSED TO WRITE ACCIDENT AND HEALTH INSURANCE IN NEW YORK STATE

SUBJECT: 40-HOUR INSURANCE COURSE PREREQUISITE FOR LIFE AND ACCIDENT & HEALTH AGENT LICENSING PURSUANT TO SECTION 113

Effective July 1, 1979, no individual shall be deemed qualified to take the life insurance agent's axamination or accident and health insurance agent's examination unless he shall have successfully completed a course or courses approved as to method and content by the Superintendent, covering the principal branches and contracts of life insurance, annuity contracts, disability insurance, accident & health insurance, and related insurance requiring not less than 40 hours of classroom work or the equivalent thereof in correspondence work.

Attached are guidelines for those colleges, schools and insurers who wish to submit insurance courses for approval. Although we will be flexible in approving course hours applicable to the various insurance subject areas, a reasonable minimum number of hours will be required for each subject area.

In the case of schools and colleges which already have submitted documentation in connection with Department-approved insurance courses for property and casualty agent and broker licenses, it will only be necessary to submit data concerning the new insurance courses, such as names and biographical sketches of instructors and a day by day outline of the insurance course. All insurance course documents are to be submitted to:

New York State Insurance Department

Attn: Mr. E. Joseph Smith

Director of Licensing Services

Agency Building No. One

Nelson A. Rockefeller Plaza

Albany, New York 12257

If there are any questions concerning this new requirement, please feel free to contact Mr. Smith at (518) 474-7159 or Mr. Nelson Berninger, Chief of the Test Development Bureau at (518) 474-6610.

Very truly yours,

[SIGNATURE]

E. Joseph Smith

Director of Licensing Services

ATTACHMENT

BASIC GUIDELINES FOR 40-HOUR COURSES TO COMPLY WITH SECTION 114 OF THE INSURANCE LAW

1. Each course must be submitted to this Department for prior approval.

2. Course must be at least 40 hours of classroom work or the equivalent thereof in correspondence work.

3. Suggested minimums for course requirements attached.

4. Names, addresses, dates of birth and qualification of each instructor or coordinator to be submitted for approval. (Sample enclosed)

5. An explanation of how course is conducted (number of hours per day), time spent in review and examinations, etc.

6. Textbooks to be used.

7. Passing mark.

8. How attendance records or equivalent will be kept to assure compliance with 40-hour requirement.

9. Examination papers and attendance records shall be retained for three years after course completion and shall be available for inspection by Department personnel.

10. Department personnel shall at all times be permitted to observe the instructions given in such course.

11. Although Program Instruction booklets are acceptable as part of a course's study material, they must be an integral part of an over-all program involving personal review of the student's coverage of and knowledge of such material, including seminars, formal discussion periods that afford an opportunity for a student to ask questions and receive answers from qualified instructors or coordinators, as well as testing of the level or degree of knowledge of the student by test or quizzes as the student progresses through each course segment.

COURSE OUTLINE LIFE

20 HOURS

I

Uses of Life insurance

 
 

(Family application - Business insurance -

1 1/2 hours

 

Pension plans - Juvenile)

 
     

II

Principles of Life insurance

 
 

(Ordinary - Industrial - Group - Annuity)

1 hour

 

Types of companies, mutual - stock, etc.

 
 

(Par and non par insurance)

 
     

III

Ordinary Insurance contracts

9 hours

 

(Policy provisions - risks selections -

 
 

types of policies)

 
     

IV

Group life insurance

1 1/2 hours

     

V

Annuities including variable

1 hour

     

VI

Basic Social Security, programming,

1 hour

 

Human life concept

 
     

VII

Insurance laws (Fiduciary capacity -

5 hours

 

causes for revocation - incomplete comparisons -

 
 

rebating - penalties - Savings Bank Life, etc.)

 

COURSE OUTLINE FOR A & H

 

20 HOURS

 

I

Necessity for A & H insurance (replacement -

1 hour

 
 

expense involved - economic loss)

   
       

II

Insurance Termonology

1 hour

 
       

III

Risk selection

1 hour

 
       

IV

Types of policies (Individual - Family -

1 hour

 
 

Group - others)

   
       

V

Statutory plans (Workmen's Comp - Medicaide)

3 hours

 
       

VI

Types of Carriers

1 hour

 
       

VII

Types of Coverage

2 hours

 
       

VIII

Policy provisions (Statutory)

5 hours

 
 

(limitations - exclusions - reduction, etc.)

   
       

IX

Agents duties & responsibilities

5 hours

 

APPLICATION FOR APPROVAL AS INSTRUCTOR

N.Y.S. APPROVED INSURANCE COURSE

NAME: ___________________________________________________________________   ______/______/______

                                                       (Please print)                                                              Date of Birth

ADDRESS: __________________________________________   __________________________________________

                     (Home)                                   (Business)

             __________________________________________   _________________________________________________________________

             __________________________________________   _________________________________________________________________

EDUCATION:

NAME OF SCHOOL

GRADUATED

Elementary School

______________________

_____/_____/_____

High School

______________________

_____/_____/_____

College

______________________

_____/_____/_____

Additional Schools,

______________________

 

Special Courses, etc.

______________________

_____/_____/_____

 

______________________

_____/_____/_____

 

______________________

_____/_____/_____

 

______________________

_____/_____/_____

INSURANCE EXPERIENCE:

N.Y.S. INSURANCE LICENSES:

JOB HISTORY (10 Years Minimum):